Sweden: CPIF softens in July
Consumer prices with a fixed interest rate dropped 0.16% in July over the previous month, swinging from the 1.25% rise logged in June. July’s result marked the first drop in prices since January. Looking at the details of the release, the reading was primarily driven by falling prices for housing, water, electricity, gas and other fuels. In addition, price pressures for transportation decreased at a quicker pace.
CPIF inflation moderated to 8.0% in July, which was down from June’s 8.5%. Still, the trend pointed up, with annual average inflation coming in at 5.1% in July (June: 4.5%).